EUR/USD Current price: 1.3607
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The EUR/USD saw an early European spike up to 1.3630, yet if you blinked you missed it: price quickly retraced back to continue hovering a few pips above 1.3600. Local share markets halted latest bleeding, trading a few points up and probably helping the pair hold at current levels. Technically, there’s no change from previous updates, as the range remains quite tight. A mild bearish tone prevails intraday, as per indicators heading slightly lower in the 1 and 4 hours charts, but a break below 1.3570 is required to confirm an intraday fall.
Support levels: 1.3570 1.3530 1.3500
Resistance levels: 1.3620 1.3675 1.3700
GBP/USD Current price: 1.7104
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The GBP/USD remains weak this Wednesday, hovering around the 1.7100 figure and with the hourly chart showing indicators heading south below their midlines and price below its moving averages. In the 4 hours chart price has been capped by its 20 SMA these last 2 days, while indicators also present a mild bearish tone, which keeps pressure to the downside. A break below 1.7060, 23.6% retracement of the latest bullish run, should favor an approach to the 1.7000/20 price zone, albeit the dominant trend is still bullish and dips will likely be seen as buying opportunities.
Support levels: 1.7095 1.7060 1.7020
Resistance levels: 1.7140 1.7180 1.7220
USD/JPY Current price: 101.68
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The USD/JPY advanced some on stocks relief, but so far remains unable to overcome its 200 SMA in the hourly chart, flat at current levels. Indicators in the same time frame maintain a bullish tone, enough to keep the downside limited, while the 4 hours chart shows however, indicators losing upward slope well into negative territory. Chances of further upward movements seem limited with sellers aligned in the 101.90/102.00 price zone, while renewed selling interest below 101.60 should favor a dip towards 101.20/30 price zone.
Support levels: 101.60 101.20 100.70
Resistance levels: 101.95 102.35 102.80
AUD/USD Current price: 0.9390
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Aussie failed to regain the 0.9400 level against the dollar, trading slightly lower on the day. The hourly chart shows price below its 20 SMA and indicators heading slightly lower around their midlines, while the 4 hours chart shows indicators also pointing south, but well into positive territory as price stands above its 20 SMA. Risk to the downside remains limited, with immediate support at 0.9370 and a stronger one at 0.9330: as long as above this last, bulls will maintain the lead. Some upward momentum above 0.9420 on the other hand, should favor a recovery up to 0.9460 in the short term.
Support levels: 0.9370 0.9330 0.9300
Resistance levels: 0.9420 0.9460 0.9500
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